13 Cheapest Countries to Live in

Does living a life where your hard-earned money stretches further, allowing you to enjoy a comfortable lifestyle without worrying about expenses, sound appealing?

Whether you’re a retiree looking to make the most of a fixed income, someone eager to escape the relentless pace of a high-stress environment, or simply craving a fresh start in a new and exciting location, the freedom that comes with financial flexibility can transform your dreams into reality.

Exploring the cheapest countries is not just about finding a place to live – it’s about discovering a destination where affordability meets an exceptional quality of life.

We’ve delved deep into global cost-of-living data, carefully crafting a list of countries where your hard-earned pounds can go the distance, all without sacrificing comfort or satisfaction.

As of August 2024, the statistics we’ve used are the most current, sourced directly from Numbeo, ensuring you have the latest data at your fingertips.

Whether you’re drawn to the energy of an urban hub or the calm of a rural escape, there’s a perfect place waiting for you on this list of cheapest countries to live in, and some may surprise you!

Let’s embark on this journey to find the ideal location where your money lasts longer and brings you the lifestyle you’ve always desired.

1. Paraguay

Paraguay is our top choice for those seeking a new place to live on a budget.

Paraguay is an increasingly popular destination for those seeking an affordable yet fulfilling lifestyle.

With a remarkably low cost of living, estimated at around £350 without rent per month, this South American country allows residents to enjoy a comfortable life without breaking the bank.

Housing, utilities, and groceries are significantly cheaper than in the UK, making it an attractive option for retirees, digital nomads, and expatriates.

Beyond affordability, Paraguay boasts a stable environment with good infrastructure, making everyday life convenient and stress-free.

The country’s central location in South America also offers easy access to neighbouring countries, which is perfect for exploring the continent.

Paraguay’s rich cultural heritage, warm climate, and welcoming locals further enhance its appeal as a top destination for those seeking a more affordable, high-quality lifestyle.

For more insights on living in Paraguay and other budget-friendly destinations, you can check out A Brother Abroad and The Working Traveller.

2. Cape Verde

Cape Verde has amazing living costs when compared to the UK.

Cape Verde, an archipelago off the northwest coast of Africa, offers an enticing combination of affordability and charm, with a cost of living averaging 76.8% lower than the UK!

This stunning island nation is celebrated for its unique blend of African, Caribbean, and Portuguese influences, which is reflected in its vibrant culture, music, and cuisine.

The reasonable living costs make it an appealing destination for those seeking a laid-back lifestyle amidst breathtaking landscapes.

Cape Verde’s appeal lies in both its affordability and natural beauty, from pristine beaches to dramatic volcanic landscapes – it is a truly wonderful place to live.

The islands are also known for their welcoming communities and slower pace of life, providing a tranquil environment for residents and visitors alike.

Whether you’re drawn by the warm climate, rich cultural experiences, or simply the desire to live more economically, Cape Verde offers a unique and rewarding experience.

You can plenty more information about living in Cape Verde here.

3. Indonesia

Indonesia is a country where you can enjoy rich tradition without breaking the bank.

With its stunning array of over 17,000 islands, including the world-famous Bali, Indonesia is a paradise that offers a remarkably cost-effective existence.

Indonesia’s average cost of living is approximately 60% lower than the United Kingdom, making it an attractive destination for anyone looking to stretch their budget as far as possible.

Affordable accommodations, from cosy guesthouses to modern apartments, coupled with inexpensive local cuisine and transportation, contribute to the low cost of living.

But, what sets Indonesia apart from many other countries is not only its affordability but its unique culture, rich traditions, and stunning natural beauty.

From exploring ancient temples and bustling markets to enjoying the serene beaches and lush jungles, there’s something for everyone this wonderful country!

Indonesia’s diverse cultural landscape, warm climate, and welcoming communities make it an ideal spot for those seeking tranquillity.

For more details on living in Indonesia and other budget-friendly locales, visit The Working Traveller and Southwest Journal.

4. Mexico

Mexico is another great choice for those considering moving to a cheaper country.

Mexico offers a rich cultural experience alongside affordability.

Living here provides numerous options. From the Yucatan Peninsula’s warm beaches to central Mexico’s temperate highlands and stunning landscapes that include everything from deserts to lush jungles, Mexico provides a location for all circumstances.

In cities like Mexico City and Guadalajara, monthly rent costs typically range between £316 and £502.

The biggest saving is buying property, as Mexican homes are around 72% cheaper than those in the UK.

This makes Mexico an attractive destination for those looking to enjoy a high quality of life without spending the largest portion of their income on housing.

Beyond affordability, Mexico’s appeal lies in its lively cultural scene, delicious cuisine, and friendly communities. Whether you’re drawn to the bustling energy of urban centres or the peaceful feel of coastal towns, Mexico offers a unique and enriching way of life.

Its proximity to the United States also makes it convenient for expats who want to stay connected to home while embracing a new adventure.

Another bonus of choosing to move to Mexico is that there is a large expat community already reaping the financial benefits of living in the country, so making friends shouldn’t be a problem!

Where the Road Forks is a great source of information about what it is like to live in Mexico.

5. Colombia

Colombia has emerged from its troubled past as a top choice for those seeking to move to a cheap location overseas.

Colombia, especially its city of Medellín has become a hotspot for those looking to enjoy an affordable yet dynamic way of life.

Medellín is a dynamic and contemporary city often celebrated for its mild, spring-like climate, which has earned it the nickname “City of Eternal Spring.”

Renowned as a hub of manufacturing and industry, Medellín also stands out for its thriving commercial flower-growing sector, particularly known for its orchids.

Established in 1616, the city boasts a well-organized layout and is a bustling centre of commerce and innovation.

With monthly expenses averaging around £420, excluding rent, Medellín offers a budget-friendly urban environment without sacrificing comfort or amenities.

Colombia’s mild and pleasant climate perfectly balances city life and natural beauty, with lush mountains surrounding the metropolitan area.

Medellín’s transformation from its tumultuous past into a modern, thriving city has made it an appealing destination for expats.

The city boasts excellent public transportation, a varied cultural scene, and a welcoming community, making it easy to settle in and enjoy life at a fraction of the cost compared to other major cities in the world.

6. Albania

Albania has some stunning scenery to go with its low cost of living.

Albania, a surprising contender nestled in the heart of the Balkans, is quickly becoming a hidden gem for those seeking an affordable and diverse place to live.

With its emerging tourism sector and largely agrarian economy, the cost of living remains impressively low, making it an ideal destination for budget-conscious travellers and ex-pats alike.

Monthly expenses are manageable, allowing residents to enjoy a comfortable lifestyle without financial strain.

What makes Albania particularly appealing is its variety.

The country offers everything from the beautiful beaches of the Albanian Riviera, where the turquoise waters rival those of more famous Mediterranean destinations, to rich historical sites that tell stories of ancient civilisations.

Beyond the coastal beauty, Albania’s mountainous landscapes and charming villages offer a peaceful retreat from the hustle and bustle of city life.

Whether you’re drawn to the coast or the countryside, Albania provides a unique blend of affordability and adventure.

For more insights on living in Albania and other affordable destinations, explore Nomad Life 101.

7. Philippines

The Philippines is a top choice for those seeking a cheap place to live in Asian.

The Philippines is a stunning archipelago consisting of well over 7,000 islands.

It is an enticing destination for those seeking an affordable and fulfilling lifestyle.

With much lower-than-average living costs, it has highlighted how it has become a popular choice for expats and retirees looking to stretch their budgets.

Newcomers will be impressed with the statistics, as practically everything is far cheaper compared to the UK, notably the fact that average rents are as much as 200% cheaper!

The cost of living varies depending on location, but even in more developed areas, it remains significantly lower than in many Western countries.

What makes the Philippines particularly appealing is its warm and welcoming locals, who add to the charm of the vibrant communities spread across the islands.

The Philippines offers a diverse range of living environments.

Some of the popular locations include urban centres like Manila and Cebu.

Here, you can shop and meet with the locals as well as the many visitors that travel from abroad.

Meanwhile, quieter beach towns such as Puerto Galera, El Nido, and Coron offer the opportunity to explore the ocean and marvel at the diverse marine landscape.

This country is a place where life can be both rewarding and affordable.

8. Guatemala

Some of Guatemala’s major cities offer excellent value for money.

Another unusual hot spot, Guatemala’s rich Mayan history and stunning landscapes make it an interesting yet affordable place to live.

Positives include the weather, typically spring-like, and, of course, the wildly different cost of living from most countries in the world.

The country’s incredible location is bordered by the Pacific Ocean and the Caribbean Sea, directly south of Mexico and west of Belize.

Some areas of the county are very basic, with some having no mains electricity and water.

However, if you stick to the more populated locations, you will experience an altogether more civilised lifestyle.

Eating out, grocery shopping, renting, and housing prices all cost less in Guatemala than in the UK, so living well and spending less here is undoubtedly possible.

To explore some of the popular locations in more detail, visit the Broken Backpack website.

9. Bolivia

Bolivia is appealing with its favourable tax laws.

Ranging from the towering Andes to the lush Amazon rainforest, Bolivia offers an incredibly affordable cost of living.

The country’s local economy, deeply rooted in sustainable agriculture and a robust public transport system, helps keep everyday expenses low.

Whether living in the busy city of La Paz or a more rural area, housing, food, and transportation remain budget-friendly, making Bolivia an attractive option for new arrivals.

Even a low-to-average income can get you by in Bolivia, and you don’t have to pay any tax.

In addition to its affordability, Bolivia’s rich cultural heritage and ancient traditions add to its appeal.

From colourful festivals to ancient ruins, the country offers a unique blend of experiences at a fraction of the cost compared to other destinations.

Find out more about what it is like to live in Bolivia via the Escaping the West website.

10. Vietnam

Vietnam is a popular choice for many thanks to its mixture of tradition and modern amenities. 

Vietnam remains a top destination for expats seeking an affordable yet enriching lifestyle.

This Southeast Asian gem offers a blend of cultural richness and modern convenience, making living comfortably on a modest budget possible.

The captivating street markets of Hanoi and the serene landscapes of Ha Long Bay make Vietnam a country where history meets natural beauty at every turn.

The country’s street food scene is a particular highlight, offering delicious, freshly prepared meals for just a few pounds.

Beyond the affordable cuisine, Vietnam’s public transportation, affordable healthcare, and low-cost housing make it an appealing choice for those looking to maximise their quality of life without overspending.

Influences from various civilisations are woven into Vietnam’s fabric.

In Hanoi, remnants of French colonial architecture remain prominent, even decades after the country gained independence. Additionally, Chinese influence is evident in many aspects of Vietnamese society, from governance to daily life.

For expats, Vietnam offers a chance to immerse themselves in one of East Asia’s oldest cultures.

The enduring legacy of Vietnam’s golden era, shaped by centuries of history, can be observed in both the picturesque rural areas and the bustling cities, such as Ho Chi Minh City—still commonly referred to as Saigon by many locals.

This blend of ancient traditions and modern development makes Vietnam a fascinating place to live and explore.

11. Morocco

Morocco may be an appealing option for those looking to relocate on a budget.

Morocco is a truly fascinating destination where African and Arab cultures converge!

Living here, expats can expect to encounter a rich cultural experience at a relatively affordable cost of living, especially when compared to prices back home!

Morocco provides an appealing mix of affordability and quality of life, mostly at over half the cost compared to England.

Morocco’s historical cities, such as Marrakech and Fes, are famed for their ancient medinas, vibrant markets, and beautiful architecture.

These offer an immersive experience of Morocco’s rich heritage.

Beyond its cultural allure, Morocco is home to diverse landscapes, from the sweeping Sahara Desert to the rugged Atlas Mountains and picturesque coastal towns.

This variety makes Morocco not only a budget-friendly option but also a place where one can enjoy a broad range of experiences without straining your finances.

12. Thailand

Thailand is a particularly popular choice for many British expats.

Thailand, famous for its stunning beaches, warm climate, and welcoming locals, remains a top destination for those seeking an affordable lifestyle.

With average rental, restaurant, and transportation prices well over half those of the UK, Thailand allows expats to enjoy a high standard of living without the hefty price tag.

The country’s crazy street markets, offering everything from fresh produce to handmade crafts, provide a taste of local culture at minimal cost.

Moreover, Thailand’s healthcare system is affordable and high-quality, further enhancing its appeal to retirees and long-term visitors.

Whether you prefer Bangkok’s bustling city life or Phuket’s serene beaches, Thailand offers diverse experiences.

For more insights on living in Thailand, visit World Population Review.

13. Georgia

Georgia will surprise many with its great value for money as well as its history and beautiful countryside.

This destination has the added benefit of being closer to home.

Georgia, a hidden gem in Eastern Europe, offers an exceptionally low cost of living that will surprise even the most cost-conscious people.

This affordability, combined with the ease of obtaining residency permits, has made Georgia an increasingly popular choice among expats seeking a pocket-friendly lifestyle.

The country’s rich history, stunning landscapes, and warm hospitality add to its charm, making it a unique experience at a fraction of the cost of more traditional European destinations.

A recent government initiative has been introduced: a digital nomad program inviting remote workers to live and work in Georgia for up to a year.

While you’ll need to undergo a brief quarantine upon arrival, afterwards, you’ll have ample opportunity to immerse yourself in the unique culture, cuisine, and stunning landscapes that make Georgia so distinct.

This program offers an exciting chance to explore a part of the world, unlike anything you’ve experienced before.

14. Malaysia

Malaysia has some excellent living costs when compared to the UK.

Malaysia’s modern infrastructure, stunning natural landscapes, and buzzing cultural scene make it a popular choice among UK expatriates.

Housing, food, and transportation are significantly cheaper in Malaysia than in Western countries, and a comfortable lifestyle is attainable even on the most modest of budgets.

In addition, Malaysia’s healthcare system is highly regarded and reasonably priced, adding to its appeal, particularly for retirees.

From bustling cities to serene coastal towns, Malaysia provides diverse living options to suit various lifestyles.

With the cost of living being around 73% less than the UK, Malaysia could suit you perfectly.

15. Croatia

Croatia is one of the best places to consider if you want to stay in Europe.

Croatia, a mere two hours and twenty minutes from London, is a great option for those seeking a low cost of living in Europe.

As of 2024, excluding rent, the average cost of living is approximately £602.70 per month.

Dining out is easy on the wallet, with a typical meal costing around £8.53. Renting a one-bedroom apartment in the city centre averages about £469.60 per month.

Beyond affordability, Croatia offers access to picturesque coastal cities like Dubrovnik and Split and natural wonders such as Plitvice Lakes National Park.

While there are some fantastic locations in Croatia, the vast majority of ex-pats live in the capital, Zagreb or in Dubrovnik.

Further testament to its affordability, Mercer rated the country 137th out of 226 countries in terms of cost of living.

Planning to Move to One of the Cheapest Countries to Live in?

If our guide has inspired you, why not take the first step toward your dream move with White & Company’s International removal service?

No matter which of these cheapest countries to live in you choose, we’re committed to ensuring your belongings arrive securely and on time, allowing you to settle in smoothly.

White & Company is also proud to introduce our innovative video survey service.

Virtual surveys offer a convenient way to conduct home move surveys, gathering all the necessary details for your move right from the comfort of your home.

Ready to get started? Call us today or complete a quick quote form, and let us help turn your dream into reality.

With White & Company, excellent service and a stress-free experience are guaranteed every step of the way.

We are also founder members of the British Association of Removers (BAR).

As members, we are regularly and rigorously audited to very high standards, giving you peace of mind that backs up our exemplary reputation.

Max Peterson

Max is a seasoned writer and blogger in the real estate and home moving sectors, as well as a knowledgeable source of information for expatriates living and working abroad. His detailed insights have helped thousands of people move and live abroad with greater simplicity and ease.